The happy delusions of the live-now-pay-later culture lie shattered in the latest insolvency figures. The 14.5% increase in the number of Scots being declared bankrupt between 2006 and 2007, however, is likely to be a harbinger of worse to come.
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Time to pay the price
The happy delusions of the live-now-pay-later culture lie shattered in the latest insolvency figures. The 14.5% increase in the number of Scots being declared bankrupt between 2006 and 2007, however, is likely to be a harbinger of worse to come. The scale of the situation is brought home by the fact that the 1563 Scots declared bankrupt in the last quarter of 2007 amounted to nearly twice the average number for any three-month period three or four years ago.
